Turkish steel exports to the Gulf Cooperation Council (GCC) countries showed varying trends in H1 2023. The total Turkish steel exports to the region amounted to 73,859 tons during this period.
in June, there was a notable decline in Turkish steel exports to the GCC, falling by approximately 29pct compared to May. The export volume for June was recorded at 8,184 tons, and the export value also saw a decrease of 35pct, amounting to USD 10.5 mln, when compared on a month-on-month basis.
In Saudi Arabia, Turkish steel exports experienced a significant decline of over 40pct on a month-on-month basis, both in quantity and value. In June alone, the kingdom imported 1,723 tons of Turkish steel, valued at USD 1.59 mln. From January to June, Turkish steel exports to Saudi Arabia totaled 30,908 tons.
Similarly, the UAE also saw a notable downturn in Turkish steel imports, dropping from 5,599 tons in May to 3,475 tons (primarily profiles) in June. The export value also decreased by 44pct from May, totaling USD 3.09 mln. In the first half of 2023, Turkish steel exports to the UAE reached 30,778 tons.
Qatar witnessed a nearly 20pct month-on-month decline in Turkish steel imports, amounting to 1,001 tons in June, with an import value of USD 807,262, down by 23.6pct as compared to May’s import value. Overall, Turkish steel exports to Qatar in H1 2023 amounted to 4,825 tons.
Kuwait also experienced a substantial drop in Turkish steel imports, with the country importing only 648 tons in June, down by 53pct on a month-on-month basis. In the first half of the year, Kuwait’s total Turkish steel imports amounted to 4,172 tons.
In contrast, Oman saw an increase in Turkish steel imports in June on a month-on-month basis. The country imported 1,126 tons, including 844 tons of cast iron, compared to 186 tons in May. In H1 2023, Oman’s total steel imports from Turkey reached 2,470 tons.
Finally, Bahrain imported 211 tons of Turkish steel in June, bringing the total for the first half of 2023 to 706.4 tons.
